Travel Risk Professionals – Thomas Cook Q & A
September 23, 2019

Our thoughts at Travel Risk Professionals today are with the staff and passengers affected in so many different ways by the sad demise of Thomas Cook this weekend. This has always been a tremendously resilient industry and we know the Travel Sector will rally around you as it always has.

Many of our customers will have questions over policy cover and what actions to take so we hope that the following statement will be useful to you. If you have any additional queries or questions, please email them to me:

This situation is clearly a financial failure of a company. As such, whether you are a Travel agent or an Operator using TC, there are limited Insurance options for you to be able to call upon for assistance.

Tour Operator or Travel Agent Liability policies are not designed to respond to financial failure of suppliers. The only insurance policy which is specifically tailored to meet such scenarios is Supplier Failure Insurance (SFI). This is a stand-alone insurance policy in its own right and not an extension to Liability Cover.

Whilst we appreciate you have an obligation to offer alternative bookings or full refunds to your customers who have been booked with TC, you will not be able to claim under the tour operator liability policy.

For those of you with passengers abroad who have booked an air inclusive package with TC, please keep up to date with any TC or CAA announcements concerning repatriation.

If passengers have booked accommodation with you which you have placed with TC, but they have arranged their own flights separately, it is their responsibility to get home. You are obligated to look after the accommodation element but you are not responsible for any losses or consequential losses arising from flights outside of the package.

If you have any ongoing liability claims with us which involve TC or any of it’s subsidiaries, your position, cover and rights remain unaffected.

If you have a Supplier Failure Insurance policy (SFI) through us and have passengers booked with TC who have yet to travel, you may have cover to call upon. SFI is an indemnity policy so you will still need to adhere to your obligations under the Package Travel Regulations in terms of refunds etc in the first instance. You would then submit a claim for unrecoverable losses in due course. For further information on the SFI claims process, please contact us directly.

Our best wishes go out to all affected.

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